Drs, Reportedly a Takeover Target, Says It Is in Talks

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PARSIPPANY DRS Technologies Inc., whose flight recorders and thermal-imaging devices are used on U.S. military helicopters and ships, said it is in talks concerning "a potential strategic transaction" following a report in the Wall Street Journal that it might be bought by Finmeccanica SpA, Italy's biggest defense contractor.

DRS shares climbed $9.07, or 14 percent, to $72.81 in midafternoon New York Stock Exchange composite trading Thursday, the biggest gain since July 1, 2004. There is no assurance that an agreement will be reached, the company said Thursday in a statement.

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Drs, Reportedly a Takeover Target, Says It Is in Talks

DRS ...

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